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France and Germany officially out of recession.


WJT
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I mentioned this and a link in the "Pound on the Brink" thread but thought it was worth starting a new thread because I also ran across this article.

http://www.dailymail.co.uk/news/article-1206022/Mervyn-King-says-Its-worse-thought-Feeble-economic-recovery-doom-firms.html?ITO=1490

It looks as if they knew what they were doing all along with allowing the strong Euro!

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INSEE? I think Sarko or Lagarde dreamt these figures up. Did anyone notice that they increased the downturn in Q1 in the same report by 0.2%? When we get the true Q2 figure in the Q3 provisional report, I'll put money on there still being a recession. But hey-ho, everyone will have forgotten by then.

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Oops just to clarify (not that I am saying anything is wrong with it) but I personally don't read the Mail. I have Yahoo as my front page and it appears they have changed it recently. Now the news links take you to a particular paper, didn't even realise where this was coming from before Will mentioned it.  I am not sure where Yahoo got their news from in the past, however, I will continue to keep Yahoo as my home page though.[:)]

http://m.uk.yahoo.com/

Here is another about France and Germany from the Yahoo front page and it is the Guardian this time. By the way, I never read the Guardian either.[:)]

http://www.guardian.co.uk/business/2009/aug/13/germany-france-emerge-recession?CMP=AFCYAH

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The problem with the Mail (and you can't really blame the paper entirely because it only says what it thinks its target readership wants to hear) is that it never misses any opportunity to blame Gordon Brown and the rest of his government for all of the world's ills - those that it cannot attribute to immigrants or Muslims of course [;-)].

Of course it's not alone in this , but is probably one of the worst offenders. We all have our own ideas about the recession, but the facts are that it is not a British problem as such, it's global. And although the governments (including the UK's) cannot be held blameless, the root of the problem was over-ambitious lending by the banks - starting in the USA and, as ever, Britain follows.

In that respect, France and Germany, where credit has historically been much tighter, are bound to fare better in comparison.

The Mail isn't exactly wrong - but as ever, opinion obscures and distorts the facts.

 

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[quote user="Will"]

The Mail isn't exactly wrong - but as ever, opinion obscures and distorts the facts.

[/quote]

Which is what I should have added yesterday when I linked to the Reuter's report. Most news broadcasters (TV, radio and newspapers) rely initially on a small number of sources e g AP and Reuters. It's what they do with that news and how they put it across to their listeners and readers.

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